Fraud losses from people being tricked into transferring money to scammers surged by nearly a fifth last year as more than half a billion pounds was stolen, with the use of AI to manipulate victims lowering the “barrier to entry” for criminals, according to UK Finance.
AI (artificial intelligence) has made it easier for criminals to make their communications appear more sophisticated, send out messages at scale and mimic celebrities or people’s friends or family members, the banking and finance industry body said.
